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Is It Necessary to Hire a Lawyer for your Timeshare Exit? The fact that almost 7% of households in the U.S. own at least one type of timeshare product is a testament of how popular this kind of property ownership is. But it’s no secret that a large part of that percentage are households or families that earn an annual income of at least $100,000. There’s no denying that there are perks and benefits if you invest in timeshares, and this is quite true for people who have the money to spare to pay for them. But then again, there are those who eventually realize after paying for several months that they no longer are capable or interested in honoring the responsibility of owning a timeshare. And considering you’re here and reading this post, it could only mean one thing: you also want to get out but you’re confused as to how to make that possible. When the payment obligations begin to pile up, including interest rates and maintenance fees, you eventually realize it’s no longer a sound and practical investment. To get that much needed relief, you need to hire competent and highly experienced timeshare exit attorneys. Here are the reasons why you should: 1 – First, you must understand that the always applicable to cancelling timeshare commitments differ from one state to another. The problem most people have with their timeshare investments is that they likely may have purchased one in another state different from where they reside. As such, it is very important to hire a lawyer who knows about that particular state’s set of rules governing cancellation of timeshares, more specifically on the rescission period.
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2 – It’s best to have an expert write the letter for the cancellation of your timeshare contract. Of course, the fact that you are terminating a legally signed and existing contract means that it needs to be done in writing. But then again, this letter you’re supposed to make isn’t just like any other business or friendly letter. In this case, a lawyer’s expertise is valuable because he/she can make that letter in your behalf. Perhaps the most important thing inside that letter is the cancellation statement.
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3 – The act of hiring a lawyer for a timeshare exit means you have someone who can protect you from debt collectors. Since pending payments and fees will surely come your way as you attempt to cancel, it’s expected that debt collectors will storm back at you and demand you to pay your obligations; this in turn could cause a lot of stress. But with a lawyer by your side, you can invoke the Fair Debt Collection Practices Act that is designed to protect you from harassment from debt collectors, and once those collectors see that you’ve tapped the services of a legal professional, they most likely will back down.